Factoring Support
Services
Is your factoring business besieged with challenges? Overcome them with our optimized factoring support services. From meticulous documentation to credit risk mitigation, we provide tailored solutions to enhance the speed and efficiency of your factoring business.
22+
Years of
Experience
10+
Industry
Verticals
5000+
Experienced
Professionals
Outsource Factoring Support Services to the Expert
We are a specialized invoice factoring with over 22 years of experience in assisting factoring companies in making the right decisions in financing their clients. We undertake invoice factoring for staffing, healthcare, transportation, manufacturing, professional services, wholesale, distribution, logistics, and fabrication.
We entrust your requirements to knowledgeable staff with a deep understanding of industry trends, best practices, and potential pitfalls. This ensures complete accuracy in doc validation, verification, auditing and payment posting and enables you to take informed decisions and stay competitive.
Our well-defined workflows can be customized to client-specific needs. We run them on secure and reliable platforms to ensure smooth and secure processing of information. Furthermore, we closely monitor our team's performance and provide regular feedback on improving it. Additionally, we train them regularly to update them on current regulations. All these together help us ensure we provide quality services to our clients with unmatched consistency.
Our Comprehensive Factoring Support Services
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The Invensis Advantage for Factoring Support Services
Invensis - The Most Trusted Invoice Factoring Support Service Provider
As an established player within the factoring support space, we have been delivering comprehensive back-end support services since 2000 to companies in the US and European markets. Our clientele includes factoring companies specializing in supporting trucking, logistics, freight forwarders, insurance, payroll, pawn, equipment manufactures, and more. We offer an expert team, cutting-edge technology, and unparalleled customer service, to develop and deliver custom solutions for your unique needs.
1000+
Finance & Accounting Professionals
400M+
Invoices
Processed
200B+
Value of Invoice
Processed
99%
Accuracy
Rate
25%-30%
Cost
Reduction
What Our Customers Say
Working with Invensis has allowed us to reduce overhead costs and increase our efficiency. Their expertise in factoring support services is second to none. Outsourcing this to Invensis has been one of the best decisions we've made for our business.
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Invensis' factoring support services have been an essential part of our decision-making, helping us to stay competitive and profitable in a challenging market. Today, our factoring operations are running smoothly, and our customers are happier than ever.
Our partnership with Invensis has been a game-changer for our business. Prior to partnering with them, we were struggling to keep up with the high volume of invoices and collections. Their factoring support services have enabled us to bring this under full control.
Factoring is a popular financing technique that involves the sale of accounts receivables to a third-party factor in exchange for immediate cash. Factoring support services can provide back-end support to factoring companies or businesses that offer factoring services.
Here are some benefits of factoring support services for back-end support:
1. Efficient Processing of Invoices
Invoice factoring support services can help businesses or factoring companies efficiently process invoices. By outsourcing the invoice processing function to a third-party service provider, businesses or factoring companies can free up valuable time and resources that can be utilized to focus on core activities.
2. Streamlined Collections Process :
Outsourcing invoice factoring support services can help businesses or factoring companies streamline the collections process. Third-party service providers can take over the collections process, freeing up valuable resources and ensuring that payments are collected promptly and efficiently.
3. Improved Cash Flow Management
Factoring support services can help businesses or factoring companies improve their cash flow management. By outsourcing the collections process, businesses or factoring companies can access immediate cash flow, which can be used to support their operations and growth plans.
4. Reduced Risk of Bad Debts
Factoring support services can help businesses or factoring companies reduce their risk of bad debts. By outsourcing the credit checking function to a third-party service provider, businesses or factoring companies can gain valuable insights into the creditworthiness of their customers, reducing the risk of non-payment.
5. Enhanced Customer Relationships
Invoice factoring support services provider can help businesses or factoring companies enhance their customer relationships. By outsourcing the collections process to a third-party service provider, businesses or factoring companies can maintain positive relationships with their customers without the need to chase payments.
6. Scalability
Invoice factoring support company can help businesses or factoring companies scale their operations. By outsourcing the collections process and accessing immediate cash flow, businesses or factoring companies can fund their growth plans and take advantage of new opportunities.
Factoring is a financial service where a business sells its accounts receivable to a third-party, known as a factor, at a discount. This provides immediate cash flow to the business and allows them to focus on growth and expansion. As factoring continues to gain popularity, factoring companies are seeking ways to streamline their processes and offer better services to their clients. In recent years, there have been several trends in back-end support services for factoring companies, which we will explore in this article.
1. Automated invoice processing
One of the most significant challenges for factoring companies is processing a large volume of invoices quickly and accurately. Many factoring companies have turned to automated invoice processing to streamline their operations. Automated invoice processing uses machine learning algorithms to extract data from invoices and validate it against existing databases. This not only reduces errors but also saves time and improves efficiency.
2. Online account management
Another trend in invoice factoring support services is the use of online account management systems. This allows businesses to manage their accounts receivable and track payments in real-time. Additionally, it allows factoring companies to provide better customer support, such as resolving disputes and answering questions quickly.
3. Risk assessment tools
Factoring companies often deal with high-risk businesses or those with poor credit scores. To minimize the risk of defaults, factoring companies are increasingly using risk assessment tools. These tools analyze various factors, such as credit scores, payment history, and industry trends, to determine the likelihood of a business defaulting on its accounts receivable. By using these tools, factoring companies can make better-informed decisions about which invoices to purchase.
4. Integration with accounting software
Many businesses use accounting software to manage their finances. Factoring companies are now integrating their services with popular accounting software such as QuickBooks, Xero, and Sage. This integration allows businesses to easily sell their accounts receivable without having to leave their accounting software. Additionally, it allows factoring companies to receive invoices automatically and process them quickly.
5. Real-time reporting
Real-time reporting is another trend in factoring support services. By providing businesses with real-time reports on their accounts receivable, factoring companies can offer better transparency and visibility. Additionally, it allows businesses to make informed decisions about their finances and plan for the future.
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